"Now, the bilateral trade volume between Turkey and Malta stands around $500 million. However, our target is to increase it to $1 billion," Zeybekci told a news conference with Christian Cardona, Malta's minister for the economy, investment and small business.

Zeybekci said they had "very fruitful and productive" talks following a meeting of a joint Turkish-Maltese economic committee in the capital Valetta.

He said they agreed with the Maltese minister to boost relations between the two countries' private sectors.

"For this, we will establish the necessary environment and infrastructure."

Cardona said Malta wants to enhance bilateral relations, especially in the areas of trade and tourism.

"Our trade relations have increased recently. Several Turkish companies are doing business here," he added.

Cardona said it was "extremely important" to increase Turkish investments in Malta.